First Us Bancshares, Inc. · NASDAQ:FUSB
First Us Bancshares — Investor Presentation (August 2021)
34 slides from First Us Bancshares's investor presentation, Aug 10, 2021
Slide 1: Investor Presentation As of June 30, 2021
Investor Presentation As of June 30, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation of First US Bancshares, Inc. (“FUSB” or the “Company”) contains forward-looking statements, as defined by federal securities laws. Statements contained in this presentation that are not historical facts are forward-looking statements. These statements may
Slide 3: Presentation Disclosure
Presentation Disclosure This presentation has been prepared by FUSB solely for informational purposes based on its own information, as well as information from public sources. This presentation has been prepared to assist interested parties in making their own evaluation of FUSB and does not purport
Slide 4: Contents
Contents Corporate Profile ………………………………………..……………………………………...….…......5 Strategic Focus……………………………………………………………………………………………..9 2Q2021 Highlights……………………………...……………………….………………………………...12 Financial Results through June 30, 2021…........………………….…………………………………..21 Risk Management – Capital, Liquidity and
Slide 5: First US Bancshares, Inc.
FIRST US BANCSHARES, INC. = Company Founded: 1952 = Tangible BV: $12.96 per share ! = Headquarters: Birmingham, AL = Exchange: NASDAQ: FUSB = First US Bank: 19 Branches (") / 2 LPOs = Stock Price $10.96 * Acceptance Loan Co: 20 Branches (2) * Price to TRV 84.6% |) = Total Assets: $947 million * Mark
Slide 6: Corporate Profile Senior Leadership Team
Corporate Profile Senior Leadership Team 6
Slide 7: First US Bank – Branch and LPO Location Map
7 Corporate Profile: First US Bank – Branch and LPO Location Map
Slide 8: Acceptance Loan Company – Branch Location Map
8 Corporate Profile: Acceptance Loan Company – Branch Location Map
Slide 9: Strategic Focus: Primary Goals
` PRIMARY GOALS Grow EPS, ROA and ROE Consistent, diversified loan and deposit growth Adherence to strong credit culture Effective expense control – both interest and non-interest LENDING FOCUS EXPENSE CONTROL LONGER TERM GROWTH EFFORTS Superior organic growth in earning assets Adherence to commerci
Slide 10: Building and Maintaining a Diversified Balance Sheet
Strategic Focus Building and Maintaining a Diversified Balance Sheet Loan Composition as of 6/30/2021 Construction 7.2% Land 0.6% Indirect Sales 25.5% Branch Retail 4.6% Direct Consumer 3.9% C&I 11.2% 1-4 Family 11.4% Multi-Family 7.8% Non-Residential CRE 27.8% Deposit Composition as of 6/30/2021 No
Slide 11: A Favorable Geographic Footprint
11 Strategic Focus A Favorable Geographic Footprint Potential Markets for Growth Alabama: Auburn Dothan Huntsville Montgomery Florida: Destin Panama City Pensacola Georgia: Athens Atlanta Augusta Columbus Macon Mississippi: Hattiesburg Jackson Meridian South Carolina: Greenville Tennessee: Memphis N
Slide 12: Net income of $1.0 million and diluted EPS of $0.14
12 Net income of $1.0 million and diluted EPS of $0.14 Net income and diluted EPS consistent with 1Q2021 Diluted EPS up $.08 per diluted share from 2Q2020 due to increase in net interest income, decrease in provision for loan losses, and non-interest expense savings 9-basis point decrease in net int
Slide 13: Loan Growth of $19.1 million driven by Indirect Sales and Construction
2Q2021 Highlights Loan Growth of $19.1 million driven by Indirect Sales and Construction 13
Slide 14: A focus on the Indirect Sales Portfolio
2Q2021 Highlights A focus on the Indirect Sales Portfolio Significant growth from leisure activity choices during pandemic Enhances earnings (average yields exceed 6.0%) Strong credit quality (average credit scores in the mid-700s) Enhances geographic diversification of the loan portfolio This portf
Slide 15: Indirect Sales by Collateral and State
2Q2021Highlights A Focus on the Indirect Sales Portfolio Indirect Sales by Collateral as of 6/30/2021(1) Cargo Trailers $10,238 Avg Yield: 6.07% Avg Credit: 756 RV/Campers $105,370 Avg Yield: 6.66% Avg Credit: 745 Horse Trailers $30,080 Avg Yield: 6.06% Avg Credit: 757 Marine $30,333 Avg Yield: 6.08
Slide 16: Quarter Margin Report (Annualized)
2Q2021 Highlights 5 Quarter Margin Report (Annualized) – A challenging interest rate environment continues 16 (1) Average Rate on Interest-Bearing Liabilities and Non-Interest-Bearing Deposits
Slide 17: Asset Quality – Net charge-offs remain below 30 basis points
2Q2021 Highlights Asset Quality – Net charge-offs remain at less than 30 basis points 17 ALLL as a % of loans excludes PPP loans, which are guaranteed by the SBA
Slide 18: Asset Quality – Decline in nonperforming loans and assets
2Q2021 Highlights Asset Quality – Continued decline in nonperforming loans and assets 18 Nonperforming assets include non-accrual loans and OREO Nonperforming loans include loans rated substandard and nonperforming
Slide 19: Reduction in loans in COVID-19 deferment status
19 2Q2021 Highlights Continued reduction in loans in COVID-19 deferment status
Slide 20: COVID-19 at-risk categories remain a small portion
2Q2021 Highlights COVID-19 at-risk categories remain a small portion of the portfolio 20
Slide 21: Selected Financial Data
21 Financial Results Selected Financial Data (1) Calculations of tangible balances and measures are included in Appendix B (2) Efficiency ratio = non-interest expense / (net interest income + non-interest income)
Slide 22: Selected Balance Sheet Information
Financial Results Selected Balance Sheet Information (dollars in thousands) 22
Slide 23: Income Statements
Financial Results Income Statements (dollars in thousands, except per share data) 23
Slide 24: Profitability Metrics
Financial Results Profitability Metrics 24
Slide 25: Balance Sheet Metrics
Financial Results Balance Sheet Metrics 25
Slide 26: Share Price vs. Tangible Book Value
Financial Results Share Price vs. Tangible Book Value (85% as of 6/30/2021)(1) 26 (1) Calculations of tangible balances and measures are included in Appendix B
Slide 27: Non-interest Income and Expense Additional Detail
Financial Results Non-interest Income and Expense 27 Additional Detail Additional sources of non-interest income include: Credit insurance commissions and fees Bank-owned life insurance Gains on the sales of premises and equipment and other assets
Slide 28: Risk Management: Equity Capital
Risk Management Equity Capital: Shift downward due to deposit and loan growth 28 (1) The minimum regulatory requirement for Tier 1 Capital is 7.0%. To be considered well-capitalized, Tier 1 Capital must be 6.5%. (2) The minimum regulatory requirement for Tier 1 Leverage is 4.0%. To be considered wel
Slide 29: Risk Management: Maintaining Strong Liquidity
Risk Management Maintaining Strong Liquidity 29 Summary of Securities Portfolio The portfolio is structured with relatively short expected average lives in order to enhance liquidity Weighted average book yield was 1.39% in 2021Q2 Expected average life of securities in the portfolio is 3.43 years 96
Slide 30: Risk Management: Interest Rate Sensitivity
30 Risk Management Interest Rate Sensitivity The following table summarizes the forecasted impact on net interest margin and net interest income using a base case scenario given upward and downward movements in interest rates of 100, 200 and 300 basis points (“bps”) based on forecasted assumptions o
Slide 31: Appendix Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations
Slide 32: Non-GAAP Reconciliation
32 Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data) (1) Calculation of Return on average tangible common equity (annualized) = ((net income (d) / number of days in period) * number of days in year) / average tangible shareholders’ equity (c)
Slide 33: Non-GAAP Reconciliation
33 Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data)
Slide 34: Contact: Thomas S. Elley, Chief Financial Officer
www.firstusbank.com Contact: Thomas S. Elley Chief Financial Officer telley@firstusbank.com 205.582.1200
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